Colossus: Ancient Software That Determines Insurance Claims | Corporate Casket
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How to Tune Colossus to a Low Settlement Range
The insurer is intentionally adjusting the software programming so that when adjusters enter injury claims into the system, Colossus recommends settlement values that are 20% lower. CSC touts this function as user friendly in its marketing literature. An irresponsible insurer could drag and drop the settlement line to produce whatever outcome it chooses - even if that income is an arbitrarily low settlement offer. Bad faith can also expose someone who's insured to be personally exposed for damages.
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